Final answer:
A hazard rate is an expression that considers the frequency, length of time, and percentage of people or assets subjected to a hazard.
Step-by-step explanation:
An expression that considers the frequency, length of time, and percentage of people or assets subjected to a hazard is called a hazard rate.
The hazard rate is used in survival analysis and reliability engineering to measure the probability of a hazard occurring at a given time. It takes into account the number of occurrences of the hazard, the time duration, and the proportion of the population or assets affected.
For example, in a study on earthquake supplies, the hazard rate would consider the frequency of residents without adequate earthquake supplies, the length of time until a resident without supplies is found, and the percentage of residents without supplies in the population.